The area of Ras Al Khaimah has a diverse and stable economy, with no single sector contributing more than 30% to its overall GDP. Ras Al Khaimah attracts business professionals from all over the world, and the area is home to more than 38,000 businesses from 100 countries, representing over 50 industries. The emirate has been consistently rated in the ‘A’ range by Fitch and Standard & Poor’s international ratings agencies for more than a decade.
The tourism sector of Ras Al Khaimah continues to be one of the fastest-growing in the region. Tourists come here to visit Al Jazirah Al Hamra traditional fishing village and 1,000 archaeological sites, four of which have been added to the ‘UNESCO Tentative List for World Heritage’.
Due to the popularity of the area among tourists and business professionals, residential and commercial real estate in Ras Al Khaimah is of interest to investors who want to invest their funds profitably. The area offers a good ROI on apartments, at an average rate of 6-7%.
When buying a property for a minimum amount of AED 2,000,000 (USD 545,000) investors become eligible to apply for a UAE Golden Visa, with benefits including 100% business ownership by foreigners on the UAE’s mainland, and the possibility to live, study and work in the UAE without the need of a national sponsor. The Golden Visa is renewed automatically subject to the holder’s compliance with all conditions and requirements.
Popular communities to purchase apartments in the area of Ras Al Khaimah include Al Hamra Village, Al Marjan Island, Mina Al Arab and Al Nakheel.
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